Games24x7 becomes India’s Third Gaming Unicorn

Multi-gaming platform Games24x7 has joined the Unicorn Club of India. A startup becomes Unicorn when its valuation reaches $1 billion. Games24x7 is India’s third gaming Unicorn. Prior to this, Dream 11 and Mobile Premier League (MPL) have already turned Unicorn. Games24x7 has created games such as Rummy Circle and the website My11Circle. On Wednesday, the startup announced that in its latest funding round, it raised $75 million. This round was led by Malabar Investments and it witnessed the participation of existing investors Tiger Global and Raine Group. Raine Group also acted as the Financial Advisor for the startup in this fundraising round. Games24x7 is the 14th Indian startup to turn Unicorn this year joining the likes of Mamaearth, Lead School, etc. The startup informed that the raised funds will be used for further investments and for business expansion. It has already made a strategic investment in CricHeroes. After the fundraising round, the co-founder of the startup Thampy said: “We are extremely happy to partner with Malabar Investment and to see Tiger Global and Raine Group continue to repose their faith in us. This investment is a testimony not only to Games24x7’s performance but also to India’s immense potential as an online skill gaming market.”